The Kwara State Government has announced plans to acquire shares in the ongoing Dangote Petroleum Refinery Initial Public Offering (IPO) for outstanding female teachers in the state.

Governor AbdulRahman AbdulRazaq made the announcement on Monday in Ilorin during activities marking the 2026 World Teachers’ Day, unveiling the initiative as part of efforts to encourage investment, financial inclusion and asset ownership among women.

Under the proposed arrangement, the state government plans to purchase Dangote Refinery shares for female teachers in outstanding public schools.

Reports on the announcement indicate that the plan will cover 10 female teachers in each selected outstanding public school.

The governor also disclosed that the initiative is being developed in collaboration with the Dangote Foundation, with the aim of helping beneficiaries build assets through share ownership rather than relying solely on salaries and other regular income.

AbdulRazaq further directed the state Head of Service, Dr Olufunke Mercy Shittu, to work out modalities for extending the initiative to outstanding retired female teachers.

Announcement came alongside a broader package of recognition and rewards for teachers across the state.

The government presented about ₦120 million in awards to outstanding teachers, principals, head teachers, university academics and schools during the World Teachers’ Day celebration.

A total of 29 principals and head teachers received ₦29 million, while 119 outstanding teachers shared ₦59.5 million.

Eleven serving and retired university lecturers also received ₦22 million under a pioneer professorship recognition award, while three schools received ₦9 million for emerging as winners of the Best Kept School Award.

The governor said the government’s focus on teachers extends beyond financial rewards, stressing the importance of improving working conditions, professional development and the quality of education delivered across the state.

The Dangote Refinery share initiative comes as the company’s IPO attracts growing attention from retail investors.

The refinery is targeting millions of individual investors as it seeks to broaden public participation in its share offering.

Kwara government’s proposed investment scheme represents a shift towards encouraging female educators to participate directly in the capital market and become shareholders in one of Nigeria’s biggest industrial projects.

The exact implementation process, eligibility criteria and final number of beneficiaries are expected to be clarified as the state works out the modalities for the programme.